The Federal Reserve yesterday announced the results of its term auction facility, selling $66.471 billion of 84-day credits at a 0.420% stop-out rate, the sole rate awarded to all successful bids.

The bid-to-cover ratio was 0.44. Total propositions submitted were $66.471 billion. There were 80 bidders. The average bid was $831 million.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.